CVS: Stock Down 35%, Layoffs Mounting, and CEO Salary Tops $21M+
GoLocalProv Business Team
CVS: Stock Down 35%, Layoffs Mounting, and CEO Salary Tops $21M+
She is paid -- not counting her pension or deferred comp, more than $21 million. And according to a calculator developed by the AFL-CIO, Lynch makes 380 times the median salary of a CVS worker.
This is while the company has announced 5,000 corporate layoffs. Hundreds are being laid off in Rhode Island presently.
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Underperforming Stock
The CVS stock is performing near its 52-week low [$64.62] and 35% lower than is 52-week high of $104.83. Monday, CVS' stock closed at $67.24.
According to Becker's Hospital Review, the following are the 20 CEOs in healthcare with the highest total compensation in 2022.
Total compensation includes information disclosed in company proxy statements, including base salary, bonus, stock awards, and option awards, as well as other benefits and perks. Pension and deferred compensation are not included.
1. Albert Bourla, PhD, Pfizer (New York City) — $30.54 million
2. Christopher Viehbacher, Biogen (Cambridge, Mass.) — $30.49 million
3. Ari Bousbib, IQVIA Holdings (Durham, N.C.) — $29.71 million
4. Marc Casper, Thermo Fisher Scientific (Waltham, Mass.) — $28.21 million
5. Francis deSouza, Illumina (San Diego) — $26.75 million *Mr. deSouza left the CEO position June 11.
6. Richard Gonzalez, AbbVie (North Chicago, Ill.) — $25.85 million
7. Joseph Zubretsky, Molina Healthcare (Long Beach, Calif.) — $22.13 million
8. Daniel Patrick O'Day, Gilead Sciences (Foster City, Calif.) — $21.62 million
9. Robert Ford, Abbott Laboratories (Abbott Park, Ill.) — $21.45 million
10. Robert Bradway, Amgen (Thousand Oaks, Calif.) — $21.40 million
11. David Ricks, Eli Lilly and Co. (Indianapolis) — $21.40 million
12. Karen Lynch, CVS Health Corp. (Woonsocket, R.I.) — $21.32 million
13. David Cordani, The Cigna Group (Bloomfield, Conn.) — $20.97 million
14. Gail Koziara Boudreaux, Elevance Health (Indianapolis) — $20.93 million
15. Andrew Witty, UnitedHealth Group (Minnetonka, Minn.) — $20.87 million
16. Brian Tyler, PhD, McKesson Corp. (Irving, Texas) — $20.22 million
17. Rainer Blair, Danaher Corp. (Washington, D.C.) — $20.20 million
18. Giovanni Caforio, MD, Bristol-Myers Squibb Co. (Lawrence Township, N.J.) — $20.05 million *Dr. Caforio plans to leave the CEO position Nov. 1.
19. Stephane Bancel, Moderna (Cambridge, Mass.) — $19.36 million
20. Joseph Hogan, Align Technology (Tempe, Ariz.) — $18.68 million